Essential Tips to Design a Successful Coupon Marketing Campaign

However, if not implemented in the correct manner, your coupon marketing strategy can easily backfire. It is thus, that you take into consideration the following tips to make sure you are venturing on the right path.

• Keeping the Offer Simple

Remember, the more you make your customers think the higher the chances that they will drop the cart. It is recommended that you make the offer as simple as possible. This way, communicating and understanding the deal is simpler. Stick to the basics, especially if you are new to the game. One such example can be seen from guys at Paytm with their recharge coupons. These paytm coupons are very easy to use and very simple to understand.

• Keeping the Code Simple

In addition to making the offer a simple one, you also want to create a code that is easy to read, remember and eventually type. It is best to use actually phrases or words and keep the code under 10 characters. Studies suggest that the most effective and easy to remember codes are about 6 characters long. Furthermore, it is recommended that you avoid using characters that look alike, for instance people may mix the number 1 with the letter I. Also, don’t make the codes case sensitive.

• Inclusive Offers are better than Exclusive ones

What this really means that it is far easier to offer a discount site-wide than to limit it to a specific category or item time. Additionally, the more you limit the discount the smaller will be your pool of customers. While it may sometimes make financial sense to restrict discounts by item, make sure you think this through before releasing a coupon.

• Be sure to Use a Landing Page

If you eventually choose to provide a deal only for a specific category or set of items, it is recommended that you guide the shoppers to the page that displays all the products eligible for a discount. This saves customer time in hunting for the items and enhances your conversion rates.

• Include a Validity Date

Making your coupons valid for a limited amount of time is a great way to simplify your result tracking exercise and create a sense of urgency for your shoppers. Make it a point to highlight the expiry date clearly with your coupon.

• Choosing the Right Products

It is ideal to select items from your product list that come with high profit margins. This gives you room to offer discounts without suffering unsustainable losses. Subsequently, avoid offering products that are extremely popular or have low profit margins. Furthermore, it is best to avoid discounting some of your premium services or best products due to the risk of damaging your brand and your full-price sales in the future. It is also recommended that you use coupon sites to clear superseded or old stock or when your site is launching a new product or service.

• Targeting the Correct Customers

Before you release a coupon, it is important that you are clear about “whom” it is that you would like to attract. If the discount you are offering is for a popular, everyday product chances are that you will attract the bargain-hunters who are seldom a good source of repeat business. It is ideal to discount a higher-margin product that appeals to a smaller yet consistent group of shoppers. Furthermore, you don’t want your existing customers to use the coupons considering this business is taken out of your regular sales. To avoid this, you may offer coupons only to new registrations or first-time shoppers.

Finally, it is important that you find ways to minimize your losses in and bring in maximum profits. A big mistake most online stores make is that they easily accept financial losses as a trade-off for bringing in a new customer base. Also, find ways to expand the size of the cart beyond what the coupon is offering. With smart marketing tactics and comprehensive knowhow of your audience, you will be able to design a successful coupon marketing strategy for your business.